The market seems to agree with what 24/7 Wall St. wrote lates yesterday. No one will buy debt-laden Charter Communications (CHTR) and even controlling shareholder and billionaire Paul Allen does not have the money to cover the $19 billion in debt. His part of the company’s equity is worth about $500 million.
Charter shares are off almost 10% today to $2.31. The stock traded at $4.93 on July 19.
Charter may have trouble if its operating income slips even slightly. With no buyer in sight, it has to cover debt service out of cash flow, and that may be tough.
Douglas A. McIntyre
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
